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Loan Submission

Refinancing of Existing Facilities:

  • The verification of the original paid in equity provided at the initial acquisition date--no matter how old.
  • Income statement and budget reflecting a stabilized net operating profit with explanation as to how it was arrived.
  • Define any rehabilitation, updating, or repairs that are going to be done with the refinancing.
  • Outline any other liens, major liabilities, etc. that are going to be paid off with the refinance.
  • Personal financial statements of all principals owning more than 20% of the organization.
  • Two years tax returns for the organization and the principals owning more than 20% of the organization.
  • Two years income statements and balance sheet for the property, plus trailing period financials.
  • Resumes of all of the principals.
  • The amount of the present debt for all mortgages, both first and second mortgage.
  • Completed ICC Loan Applications and Credit Authorizations.
  • Current rent roll.

Click Here for Refinance Form

New Construction or Substantial Rehabilitation:

  • Brief executive summary explaining use and income source from the property and background of the organization to be the proposed real estate.
  • Two years tax returns for the organization and the principals owning more than 20% of the organization.
  • Two years income statements and balance sheet, plus trailing period financials.
  • Personal financial statements on principals owning more than 20% of the organization.
  • Resumes of the principals.
  • Pro Forma Net Operating Statement for three years.
  • Simple recap of Construction Costs.
  • Plans and Specifications for construction.
  • Completed ICC Loan Applications and Credit Authorizations.
  • Most current rent roll if the loan is for acquisitions with substantial rehabilitation.

Click Here for Construction Form


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